Next best steps to repair credit?

I've just recently started taking steps to repair my credit. Prior to finding these boards I opened two secured credit cards: $300 USAA secured AMEX and $500 USAA secured Mastercard (this month.) I also disputed a few things on credit reports and a couple of inaccurate lates were removed, and a couple of accounts that were not mine were removed. I don't have the money to PIF/PFD all the accounts I owe on, but am hoping to tackle one or two a month. Credit score is low 500s. Hoping to buy a house several years down the road.

I'll list what's left below and perhaps someone has some insight in how to "triage" so I can pay off those impacting me the most first? I know a judgement will need to be paid before getting a mortgage, though I'm guessing it won't help my credit. Here goes:

Now that I've typed all that I can't seems to find the Transunion one. It's not that different than the above though. I'll add that one when I locate it. Thanks in advance for any help.

My thought had been to start with making settlement payments for the Cap1 judgment, pay off the $50 hospital bill and setlle the charged off Target card with RJM. Then to do the cable and gas bill next.

Re: Next best steps to repair credit?

If you are going to do any PFD, I would start with the newest first since they have more of an impact on your score and then work your way down to the older ones. I would also start with GW letters for the student loans. It will likely take several letters to each of them, so be persistant and patient.

Re: Next best steps to repair credit?

Thanks for the advice. Should I also start making payments on the judgment right away? I know it won't really help my credit, but that it needs to be paid.

If they will allow you to make payments - absolutely. Otherwise, pay when you can; in advance of applying for any mortgage, of course. If you can pay it all at once, you can still try to PFD, even if it is a judgment.

Re: Next best steps to repair credit?

So, best to send Cap1 a letter asking to make payments, such as $100 a month? Worried they would decline and PIF would be rough right now. Just want to make sure I don't cause myself new problems since I haven't heard from them in many years.

Re: Next best steps to repair credit?

Judgment is already filed, so damage is already done. Best you can hope for is to either get it paid so that it at the very least shows it being paid, or get a PFD. However, if you set up a payment plan with them, make sure that you follow through with it. Good luck!

Re: Next best steps to repair credit?

My opinion from working in a law firm regarding judgments (although not an attorney), Cap1 will accept payments although you probably won't receive the settlement you are looking for. They have a judgment so they can Levy your bank accounts and garnish your wages. If you had the ability to come up with 60-75% of it in lump sum, ask to settle it and perhaps Cap1 will be open to vacating the judgment??? Regardless, start setting aside money to pay that off. Also wouldn't recommend trying for a secured card with them until thats paid. They'll Levy the account you set up your initial deposit with. I would work on some of those recent collections. Dispute and see whats sticks. Then offer some PFDs at 50% Some will take some time to negotiate with so start them all at the same time. Jump right in. Good luck and keep us posted. Im in the same boat as you!

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.

‡ Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair
organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or
assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.